Wells Fargo & Company Lowers Super Micro Computer (NASDAQ:SMCI) Price Target to $890.00

Super Micro Computer (NASDAQ:SMCI - Get Free Report) had its target price lowered by analysts at Wells Fargo & Company from $960.00 to $890.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 20.55% from the stock's previous close.

Several other equities analysts have also recently issued reports on the company. Wedbush boosted their price target on Super Micro Computer from $530.00 to $800.00 and gave the company a "neutral" rating in a research report on Wednesday. Rosenblatt Securities restated a "buy" rating and issued a $1,300.00 price target on shares of Super Micro Computer in a research report on Wednesday. Bank of America boosted their price target on Super Micro Computer from $1,040.00 to $1,280.00 and gave the company a "buy" rating in a research report on Wednesday, March 13th. Argus assumed coverage on Super Micro Computer in a research report on Wednesday, March 6th. They set a "buy" rating and a $1,350.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Super Micro Computer in a research report on Monday, March 25th. They set an "overweight" rating and a $1,150.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $954.38.

Super Micro Computer Stock Performance

Shares of Super Micro Computer stock traded down $120.50 on Wednesday, hitting $738.30. The stock had a trading volume of 13,513,457 shares, compared to its average volume of 9,733,610. The stock has a market cap of $41.30 billion, a price-to-earnings ratio of 57.63, a P/E/G ratio of 0.79 and a beta of 1.28. Super Micro Computer has a 52-week low of $101.71 and a 52-week high of $1,229.00. The company's 50 day moving average price is $952.15 and its 200 day moving average price is $577.91. The company has a current ratio of 2.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.03.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its quarterly earnings results on Monday, January 29th. The company reported $5.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.65. The firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $2.80 billion. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The firm's revenue for the quarter was up 103.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.09 EPS. On average, research analysts anticipate that Super Micro Computer will post 20.24 EPS for the current year.

Insider Buying and Selling

In related news, Director Sherman Tuan sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total value of $4,369,900.00. Following the sale, the director now owns 22,113 shares in the company, valued at approximately $19,326,319.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Super Micro Computer news, Director Sherman Tuan sold 5,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the sale, the director now owns 22,113 shares in the company, valued at approximately $19,326,319.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Don W. Clegg sold 28,727 shares of the firm's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $874.57, for a total value of $25,123,772.39. Following the transaction, the senior vice president now directly owns 2,110 shares of the company's stock, valued at approximately $1,845,342.70. The disclosure for this sale can be found here. Insiders have sold a total of 34,552 shares of company stock worth $30,112,223 in the last quarter. Company insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently bought and sold shares of SMCI. Bank of New Hampshire acquired a new stake in shares of Super Micro Computer during the first quarter worth $35,000. Versant Capital Management Inc boosted its holdings in shares of Super Micro Computer by 42.9% during the first quarter. Versant Capital Management Inc now owns 50 shares of the company's stock worth $51,000 after purchasing an additional 15 shares during the last quarter. Silicon Valley Capital Partners acquired a new stake in shares of Super Micro Computer during the first quarter worth $51,000. Retirement Group LLC boosted its holdings in shares of Super Micro Computer by 75.0% during the first quarter. Retirement Group LLC now owns 56 shares of the company's stock worth $57,000 after purchasing an additional 24 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Super Micro Computer during the first quarter worth $61,000. Hedge funds and other institutional investors own 84.06% of the company's stock.

Super Micro Computer Company Profile

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software.